"He did what was widely expected. If he didn't come through, I think we'd be having a much different discussion today," Murphy said. "He did what was needed to be done, and you're looking at the S&P right now with a magnet to 1,600. I think we go through it, and we continue to go."

Trader disclosure: On May 2, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Steve Weiss is long AIG; Steve Weiss is long F; Steve Weiss is long QCOM; Steve Weiss is long LCC; Joe Terranova is long JUNE NAT GAS FUTURES; Joe Terranova is long JUNE MINI S&P FUTURES; Joe Terranova is long TBT; Joe Terranova is long SWN; Joe Terranova is long SPLK; Joe Terranova is long IBM; Joe Terranova is long SJM; Joe Terranova is long VRTS; Mike Murphy is long AAPL; Mike Murphy is long BAC; Mike Murphy is long INTC; Mike Murphy is long FB; Mike Murphy is long IP; Anthony Scaramucci is long AAPL; Anthony Scaramucci is long GS; Anthony Scaramucci is long INTC; Anthony Scaramucci is long YHOO.